Village Administrator Tim Gillian presented the outlines of a village budget for fiscal year 2014 that projects a budget surplus of $611,655. The preliminary budget projects village revenues to increase by 4.6 percent and expenditures to increase by 6.0 over fiscal year 2013 that ended April 30, 2013. Operating revenues are projected to be $25,231, 218 and operating expenditures are projected to be $24,619,564.
Gillian said that 64.5 percent of the budget goes to employee wages and benefits and 33.5 percent of the budget covers day to day operations leaving little room for discretionary spending.
“We’re really talking about two percent that’s left to spend for anything that’s not day to day or annual operations,” Gillian said.
Mark Hosty, the commissioner of finance and accounts said that $650,000 can come out of the village’s VIP fund, generated by a sales tax increase a number of years ago, to fix three alleys and a sidewalk.